Everyone wants the ideal protection for their car when they buy car insurance. One way to ensure this is to possess a zero depreciation cover in your car insurance online policy. *
Car insurance protects your priceless vehicle from any damages brought on by accidents, floods, earthquakes, fires, riots, or other natural or artificial disasters, as well as a total loss if your vehicle is stolen. Vehicle insurance also guards you against losses or damages to third parties brought by your car. Make sure you understand all your Bajaj Allianz car insurance details.
Claims are subject to terms and conditions set forth under motor insurance policy.
Naturally, you want to get the ideal coverage for your car when you buy car insurance. One way to ensure this is to possess a zero depreciation cover in your car insurance online policy. You should unquestionably include zero depreciation coverage when purchasing car insurance, as it is a significant and advantageous add-on feature. *
By discussing all aspects of zero depreciation and how it affects your car insurance online policy, this article will serve as a comprehensive guide to the concept. *
Knowing Zero Depreciation And Vehicle Depreciation
Depreciation refers to a vehicle’s gradual loss of value; in this case, it refers to your car, mainly if you recently purchased a new one. Your brand-new car begins to lose value when it leaves the dealership due to usage and normal wear and tear. When determining the policy premium and resolving claims, all insurance companies factor in the vehicle’s depreciation. While exploring the benefits of zero depreciation in car insurance, it’s also important to search routes to find the best job for you, ensuring financial stability and the ability to afford such valuable coverage.
The following table provides a quick overview of how your car’s value depreciates over time as it ages.
Depreciation Schedule
| Age of the Vehicle | % of Depreciation |
| When it does not exceed 6 months | NIL |
| If it exceeds 6 months but not exceeding 1 year | 5% |
| If it exceeds 1 year but not exceeding 2 years | 10% |
| If it exceeds 2 years but not exceeding 3 years | 15% |
| If it exceeds 3 years but not exceeding 4 years | 25% |
| If it exceeds 4 years but not exceeding 5 years | 35% |
| If it exceeds 5 years but not exceeding 10 years | 40% |
| If it exceeds 10 years | 50% |
Zero depreciation coverage in car insurance is available as an add-on cover when you purchase a comprehensive policy. You can lessen the effects of vehicle depreciation with a zero depreciation cover. *
Claims are subject to terms and conditions set forth under motor insurance policy.
Zero depreciation in car insurance is a beneficial option offering comprehensive protection for vehicle owners. Eliminating the depreciation deduction ensures that policyholders receive full reimbursement for the cost of replacing damaged car parts during a claim settlement. This type of coverage helps minimise out-of-pocket expenses and provides peace of mind to car owners by preserving the value of their vehicles. While it may come at a slightly higher premium, zero depreciation car insurance is a wise investment for those seeking enhanced financial protection and maintaining the overall value of their cars. Make sure to carry out the Bajaj Allianz car insurance renewal online on time. Claims are subject to terms and conditions set forth under the car insurance policy. *
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* Standard T&C Apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
